No Partition. (a) Each Member irrevocably waives any right that such Member might otherwise have had to maintain any claim for partition with respect to any property of the Company or to compel any sale or appraisal of any Company asset or any sale or appraisal of a deceased Member's Units. (b) The Members shall not hold undivided interests in any asset of the Company, but rather an interest in the Company itself, which shall for all purposes be considered to constitute personal property.
Appears in 3 contracts
Sources: Limited Liability Company Agreement (Oppenheimer Master Loan Fund, LLC), Limited Liability Company Agreement (Oppenheimer Master International Value Fund, LLC), Limited Liability Company Agreement (Oppenheimer Master Event-Linked Bond Fund, LLC)
No Partition. (a) Each Member irrevocably waives any right that such Member might otherwise have had to maintain any claim Claim for partition with respect to any property of the Company or to compel any sale or appraisal of any Company asset or any sale or appraisal of a deceased Member's Unitsinterest.
(b) The Members shall do not hold undivided interests in any asset of the Company, but rather an interest in the Company itself, which shall for all purposes be is considered to constitute personal property.
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement (Red Oak Capital Fund VI, LLC), Limited Liability Company Operating Agreement (Red Oak Capital Fund VI, LLC)
No Partition. (a) Each Member irrevocably waives any right that such Member might otherwise have had to maintain any claim for partition with respect to any property of the Company Platform or Series or to compel any sale or appraisal of any Company Platform or Series asset or any sale or appraisal of a deceased Member's ’s Units.
(b) The Members shall not hold undivided interests in any asset of the CompanyPlatform or Series, but rather an interest in the Company itselfPlatform itself and the Series themselves, which shall for all purposes be considered to constitute personal property.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (AlphaMetrix Managed Futures III LLC (AlphaMetrix WC Diversified Series)), Limited Liability Company Agreement (UBS Managed Futures LLC (Aspect Series))
No Partition. (a) Each Member irrevocably waives any right that such Member might otherwise have had to maintain any claim for partition with respect to any property of the Company or to compel any sale or appraisal of any Company asset or any sale or appraisal of a deceased Member's Member ’s Units.
(b) The Members shall not hold undivided interests in any asset of the Company, but rather an interest in the Company itself, which shall for all purposes be considered to constitute personal property.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Oppenheimer Master Inflation Protected Securities Fund, LLC)
No Partition. (a) Each Member irrevocably waives any right that such Member might otherwise have had to maintain any claim for partition with respect to any property of the Company Platform or Series or to compel any sale or appraisal of any Company Platform or Series asset or any sale or appraisal of a deceased Member's Units.
(b) The Members shall not hold undivided interests in any asset of the CompanyPlatform or Series, but rather an interest in the Company itselfPlatform itself and the Series themselves, which shall for all purposes be considered to constitute personal property.
Appears in 1 contract
Sources: Limited Liability Company Agreement (UBS Managed Futures LLC (Aspect Series))
No Partition. (a) Each Member irrevocably waives any right that such Member might otherwise have had to maintain any claim for partition with respect to any property of the Company or to compel any sale or appraisal of any Company asset or any sale or appraisal of a deceased Member's Unitsasset.
(b) The Members shall do not hold undivided interests in any asset of the Company, but rather an interest in the Company itself, which shall for all purposes be is considered to constitute personal property.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Phoenix Capital Group Holdings, LLC)
No Partition. (a) Each Member irrevocably waives any right that such Member might otherwise have had to maintain any claim for partition with respect to any property of the Company Platform or to compel any sale or appraisal of any Company Platform asset or any sale or appraisal of a deceased Member's UnitsInterest.
(b) The Members shall not hold undivided interests in any asset of the CompanyPlatform or Series, but rather an interest in the Company itselfPlatform itself and the Series themselves, which shall for all purposes be considered to constitute personal property.
Appears in 1 contract
Sources: Limited Liability Company Agreement (UBS Managed Futures LLC (Aspect Series))